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Paul Atkins Discloses $327M Assets, $6M in Crypto Ahead of Senate Hearing
Paul Atkins, a former SEC commissioner nominated by former President Donald Trump to lead the Securities and Exchange Commission (SEC), has disclosed that he and his wife, Sarah Humphreys, hold combined assets worth at least $327 million. According to a financial disclosure released by the U.S. Office of Government Ethics on March 25, their assets could exceed $588 million, depending on the highest disclosed estimates.
Significant Investments in Crypto and Finance
Atkins has substantial investments in various firms, including Patomak Global Partners, his consulting firm, and Tamko Building Products. His financial interests also extend to the crypto sector, with equity stakes in several blockchain-related companies. Reports indicate that he holds up to $500,000 in Anchorage Digital and between $1 million and $5 million in Off the Chain Capital, a crypto-focused investment fund.
Resignation to Avoid Conflicts of Interest
To address potential conflicts of interest, Atkins has pledged to resign as CEO of Patomak Global Partners within 90 days of his confirmation. He also plans to sell his equity stake in Securitize and step down from his role at the Chamber of Digital Commerce’s Token Alliance. These steps come ahead of his scheduled appearance before the Senate Banking Committee on March 27.
Senator Elizabeth Warren, a leading Democrat on the committee, has raised concerns about Atkins’ close ties to FTX and other high-paying crypto clients. Lawmakers are expected to question him about his financial interests and any potential impact on regulatory decisions.
David Sacks Sells Over $200M in Crypto
Meanwhile, another Trump administration official, David Sacks, has taken steps to mitigate potential conflicts of interest. Sacks, who has been named as Trump's AI and crypto czar, filed a notice on March 5 revealing that his venture capital firm sold over $200 million in cryptocurrency and related stocks ahead of assuming his role.
Trump Faces Scrutiny Over Crypto Ties
Former President Trump has also faced criticism for his involvement in the cryptocurrency sector. His family has been linked to World Liberty Financial, and he recently launched a memecoin in January. These connections have drawn scrutiny from lawmakers and figures within the crypto industry.
With Paul Atkins set to testify before the Senate, his extensive financial holdings and crypto investments are expected to be key topics of discussion. His testimony could influence future crypto regulations and the SEC's stance on digital assets.
